18A.265 Deferred compensation program to be in addition to retirement or benefit
121 words·~1 min read·
/ky/18a-265A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
programs -- Coordination of programs.
(1)Such a deferred compensation program shall be in addition to any retirement or any
other benefit program provided by law for employees of this state. Any income
deferred under such a plan shall continue to be included as regular compensation for
the purpose of computing the retirement and pension benefits earned by any
employee. But, any sum so deducted shall not be included in the computation of any
income taxes withheld on behalf of any such employee.
(2)The board shall, jointly with the board of trustees of the Kentucky retirement
systems, prepare and implement a program for advising employees on coordinating
deferred compensation plans and retirement programs in order to achieve their
retirement objectives.